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The US dollar, measured by the US Dollar Index (DXY), resumed the downtrend on Wednesday and is approaching its lowest near 93.50.
The index quickly retracted its lead on Tuesday as sellers dominated the market and sentiment surrounding the dollar. The dollar remains under intense pressure as traders maintain the downward stance unchanged in light of the tension between the United States and China and the increase in the numbers of Corona cases beside the preference for other safe havens instead of the dollar when risk aversion.
Later on, pending home sales for June, advanced trade balance results, MBA mortgage applications and the weekly EEA crude oil supply report will all be released and that will affect the US dollar.
The index recorded losses of 0.14% to 93.59.
